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As I recall, the stock dropped "only" 20-30% the day in August when quarterly results were released.

Looks like CHUX is close to signing up its first franchisee, Meritage Hospitality Group (MHG). The deal is subject to MHG getting financing. MHG is a Wendy's franchisee and would have exclusive rights to develop stores in Michigan.

Perhaps this will become the growth strategy going forward--use franchises in new markets like Michigan and stay with company-owned stores in CHUX's existing markets? Who knows.
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